1) Despite pre-sale worries, an investigation of life at post-sale Stuy Town reveals that not much has changed. Except for some prices. A couple who arrived 3.5 years ago had paid $3,175 for a 2 bedroom apartment saw their rent jump to $4100 when their 2 year lease expired. Similar price increases have hit all unit types, with one bedrooms at $2800 in Stuy Town and larger one bedrooms at PCV running $3,075. Plans for taking the complex condo have not materialized, but the rumors and crazy proposals continue to circulate.. [Living In: ST/PCV/Jeff Vandam]
2) The national mortgage mess has made its way to New York City. Potential buyers with six figure salaries and relatively good credit are having difficulty lining up financing. For example, the Aus' from Hawaii wanted to buy in the Atelier when their 8 year old landed a fat modeling contract. Even though Mr. Aus is a successful surgeon in Hawaii, the couple faced difficulty lining up 100% financing because of a recently lowered credit rating. Mortgage deals are still getting done, but applicants should expect longer than normal delays before approval. [The Battle for a Mortgage/Christine Haughney]
3) Corcoran and Prudential Douglas Elliman announced their intention not to join the pending REBNY Listings Portal. This decision includes partner companies Citi Habitats and Corcoran Sunshine Marketing. Together, these companies represent close to 63% of all listings in New York City, dealing a major blow to REBNY's plans to finally operate a listings database to challenge the NY Times Real Estate Section and Craigslist. [Big Deal/Josh Barbanel]
4) Manhattan Borough President Scott Stringer has proposed creating a Special District for the area of West Harlem that is most threatened by Columbia's proposed expansion. The area has not had any zoning changes since 1961. The Special District designation would seek to preserve the low rise, residential character of the area from being overrun by over-sized dorms and institutions. [Zoning Changes Proposed to Preserve West Harlem’s Character/Charles V. Bagli]
5) Deputy Mayor Dan Doctoroff is pitching a proposal to redevelop Robert Moses playground into a 35 story U.N. office tower that would consolidate the agency's scattered offices into one location. This is the latest in a long line of redevelopment proposals for the East Side Park, who's location has long made it attractive to developers. [Kips Bay Report/Alex Mindlin]